Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – Still a Buy?

Nayax Ltd. (NASDAQ:NYAX) saw unusually-high trading volume on Wednesday . Approximately 11,712 shares were traded during mid-day trading, an increase of 39% from the previous session’s volume of 8,440 shares.The stock last traded at $28.15 and had previously closed at $27.92.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. B. Riley started coverage on shares of Nayax in a research report on Tuesday, November 19th. They set a “buy” rating and a $38.00 price target for the company. Oppenheimer assumed coverage on shares of Nayax in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Jefferies Financial Group upgraded shares of Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Barclays boosted their price objective on shares of Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods raised their target price on Nayax from $28.00 to $30.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.25.

Nayax Trading Down 1.0 %

The stock’s 50-day simple moving average is $27.94 and its two-hundred day simple moving average is $25.11. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 1.16. The firm has a market capitalization of $975.07 million, a P/E ratio of -88.71 and a beta of -0.07.

Nayax (NASDAQ:NYAX) last issued its earnings results on Tuesday, November 12th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $83.01 million during the quarter, compared to the consensus estimate of $88.40 million. Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%. During the same quarter in the prior year, the firm posted ($0.09) EPS. Equities research analysts expect that Nayax Ltd. will post -0.16 EPS for the current year.

Institutional Trading of Nayax

Several institutional investors have recently made changes to their positions in NYAX. Barclays PLC lifted its holdings in Nayax by 5,526.8% in the 3rd quarter. Barclays PLC now owns 2,307 shares of the company’s stock worth $58,000 after purchasing an additional 2,266 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Nayax in the third quarter worth $69,000. Hood River Capital Management LLC boosted its position in shares of Nayax by 35.8% during the second quarter. Hood River Capital Management LLC now owns 5,313 shares of the company’s stock worth $116,000 after acquiring an additional 1,401 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Nayax by 16.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock valued at $168,000 after acquiring an additional 1,099 shares in the last quarter. Finally, Ingalls & Snyder LLC bought a new stake in Nayax in the 2nd quarter valued at $229,000. Hedge funds and other institutional investors own 34.87% of the company’s stock.

About Nayax

Nayax Ltd., a fintech company, operates system and payment platform for multiple retailers in the United States, Europe, the United Kingdom, Australia, Israel, and rest of the world. The company offers AMIT 3.0, a machine-to-machine vending telemetry solution; Nayax Core, a management and monitoring software for vending machines and other unattended machines; MoMa, a mobile app for unattended machine; Tigapo back-office software suite, a cloud-based platform; EV Core, a smart, cloud-based management platform; Retail Management Cloud, a comprehensive attended retail management platform; Loyalty and Marketing Suite, a consumer engagement marketing and loyalty platform; Monyx Wallet, a digital wallet app enabling cashless payments with mobile phones; Weezmo, a consumer engagement and marketing platform; and Tigapo app, a proprietary mobile app to help family entertainment center businesses.